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Short interest in First NBC Bank spiked in late November

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Short interest in First NBC Bank spiked in late November

First NBC Bank Holding Co. continued to make headlines in November and saw the biggest increase in short interest among U.S. banks and thrifts in the second half of the month, up 415 basis points.

The New Orleans, La.-based company, which in October was deemed to be in "troubled condition" by the Federal Reserve Bank of Atlanta and Louisiana Office of Financial Institutions, was issued a consent order by the FDIC and the Louisiana Office of Financial Institutions on Nov. 10. After investor group Clinton Group Inc. asked the company to replace President and CEO Ashton Ryan Jr., the company said Dec. 6 that it planned to appoint Hermann Moyse III as interim CEO, with Ryan continuing as president.

Shares of First NBC Bank closed at $7.05 on Nov. 30 and were down to $6.50 at the close of trading Dec. 15.

BofI Holding Inc. was the most shorted stock during the period from Nov. 15 to Nov. 30, with 33.97% of shares sold short. The San Diego-based company's stock also saw the biggest drop in short interest, down 340 basis points.

Shares of BofI closed at $23.63 on Nov. 30 and climbed to $27.12 at the close of trading Dec. 15.

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